Advance Fee Loan Scams

Credit Services Scams

Credit services businesses purport to help individuals get credit, enhance their credit score or history, or offer credit advice or help. Credit services scam performers frequently charge individuals 1000s of dollars for things they are able to do on their own 100% free. Additional information on clearing up your credit file and enhancing your credit rating comes in our leaflets entitled «credit history» and «credit ratings.» To learn more about credit solutions frauds, see our «Debt Assistance Scams» flyer. Try not to sell to a credit solutions organization unless it really is correctly registered using the Minnesota Department of Commerce.

Under this scam, you obtain a call or e-mail from a purported loan provider, or submit an application for a loan on a webpage. The purported loan provider offers you that loan, but calls for one to send cash up-front (usually via a cable transfer or perhaps a reloadable card) beneath the guise of the advance payment, insurance coverage cost, or other cost. Following the cash is delivered, the purported lender disappears plus the individual never ever gets the mortgage. More details about this scam will come in our «Advance Fee Loan Schemes & different Financial Scams» flyer.

Additional Resources

The Minnesota Attorney General’s workplace provides the after materials, that are built to offer information to Minnesotans on dilemmas pertaining to money and credit:

Minnesota Department of Commerce

The Minnesota Department of Commerce may be the state agency that licenses state-chartered banking institutions and other state-chartered finance institutions in Minnesota. The Commerce Department additionally licenses payday loan providers, debt management that is most and debt consolidation solutions providers, and particular credit solutions companies. To learn more or even register a problem, contact the Commerce Department the following:

Federal Trade Commission

The Federal Trade Commission (FTC) could be the federal agency that has authority to take action against misleading, fraudulent and unjust company methods available on the market. The FTC as follows for more information or to file a complaint, contact

Customer Financial Protection Bureau

The customer Financial Protection Bureau is really an agency that is federal has authority to enforce different federal laws and rules also to advocate on the behalf of customers because it pertains to difficulties with banking institutions, mortgages, bank cards, and banking institutions. The Consumer Financial Protection Bureau as follows for more information or to file a complaint, contact

Any office regarding the Comptroller associated with Currency

Any office for the Comptroller regarding the Currency could be the agency that is federal authority to license and control nationwide banks. To learn more or even to register an issue against a nationwide bank, contact the Office for the Comptroller associated with the Currency as follows:

The Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation (FDIC) is just a federal agency aided by the authority to modify state-chartered banking institutions that don’t get in on the federal book system. The FDIC as follows for more information or to file a complaint about a state-chartered bank that is not a member of the federal reserve system, contact

Board of Governors of this Federal Reserve System

The Federal Reserve Board of Governors is just an agency that is federal the authority to modify state-chartered banking institutions which can be people of the Federal Reserve System. The Board of Governors as follows for more information or to file a complaint against a state-chartered bank that is a member of the Federal Reserve System, contact

Nationwide Credit Union Management

The nationwide Credit Union Administration could be the agency that is federal http://www.americashpaydayloans.com/payday-loans-ar/ authority to license and control credit unions. To learn more or to register a grievance in regards to a credit union, contact the nationwide Credit Union management the following: